Morgan Stanley cuts stake in Yandex nearly 85 percent, selling $380 mln in shares

Morgan Stanley, previously Yandex's fourth largest portfolio investor, has decreased its stake in the internet company by 84.6 percent, according to company materials.

Morgan Stanley, previously Yandex's fourth largest portfolio investor, has decreased its stake in the internet company by 84.6 percent, according to company materials.

As of April 30, Morgan Stanley owned 2,412,063 Class A shares in Yandex, and the largest part of this was in the portfolio of investment fund Morgan Stanley Investment Management.

At the end of last year, Morgan Stanley owned 15,771,200 Class A shares in Yandex that were traded on the stock market. The American investment bank has therefore cut its stake in Yandex's capital to 0.75 percent from 4.9 percent, and its voting stake - to 0.25 percent from 1.6 percent.

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